Global-related May 22, 2013

Why China's developmental state says no to liberalism

by Pankaj Mishra

Modern history is the story of how liberal democracy, originating in Britain and America, spread around the world. This may sound like an absurd fantasy. In actuality, this Whiggish narrative of progress underpins most newspaper editorials, political commentary and speeches in the West, and ...

Editorial Jul 2, 2012

Commitment that failed to come

The U.N. Conference on Sustainable Development, or Rio+20, was held in Rio de Janeiro on June 20-22 as a follow up to the 1992 U.N. Conference on Environment and Development (Earth Summit), also held in the Brazilian city. Since 1992, the Convention on Biological ...

Editorial Jun 29, 2012

Making what people will buy

The Noda Cabinet on June 5 endorsed a fiscal 2011 white book for promoting Japan’s core manufacturing technologies. The report, jointly compiled by the trade and industry ministry, the labor and welfare ministry, and the education ministry, expresses a sense of crisis over the ...

Editorial Jun 24, 2012

Taming the danger from Europe

The leaders of the Group of 20 major economies, at their June 18-19 summit in Los Gabos, Mexico, adopted a declaration emphasizing the need to resolve the European financial crisis, among other things. The declaration in part said that “Euro Area members of the ...

Editorial Jun 21, 2012

Tepid vote for Europe in Greece

Greece and Europe have gained some breathing room — but not much — after Sunday’s parliamentary elections in Greece. A victory by the conservative New Democracy (ND) party offers hope that the country will support a government that backs the existing austerity program, permitting ...

Editorial Jun 15, 2012

Direct yen-yuan trade

On June 1, new currency markets opened in Tokyo and Shanghai for direct trading between the Japanese yen and the Chinese yuan. The direct trading of the two currencies has been motivated largely by the instability of the main currencies such as the U.S. ...

Editorial Jun 13, 2012

Signs of a slowdown in China

The People’s Bank of China on June 7 lowered banks’ one-year lending rate by a quarter percentage point to 6.31 percent and one-year deposit rate by the same margin to 3.25 percent — the first full-scale monetary easing by China since a similar move ...

Editorial Jun 7, 2012

New class of vehicles

The government plans to promote a new category of “microcompact” vehicles, the first new category of vehicle to be established under the Road Transport Vehicle Law since 1963. These new cars will likely appeal to elderly people and others who will use them for ...

Editorial May 27, 2012

Foundation for future pensions

The government has sent a bill to unify different pension systems for public servants and private school teachers, on one hand, and corporate workers, on the other. The Diet should thoroughly discuss the bill since it will lay a long-term foundation for the nation’s ...

Editorial May 22, 2012

Back to Earth for Mr. Dimon

JPMorgan Chase recently posted $2 billion in trading losses. Mr. Jaimie Dimon, JPMorgan Chase chief executive and a man considered one of the savviest bankers in the world, has dismissed the losses as “a tempest in a teapot.” Given the scale of his bank’s ...

Editorial May 4, 2012

Bottom line for pension system

The incident in which AIJ Investment Advisors Co. lost most of ¥145.8 billion in pension assets through bad investments highlights problems related to the type of corporate pension fund known as kosei nenkin kikin. According to the Securities and Exchange Surveillance Commission, 84 corporate ...